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11/21/2008 01:41 AM
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Fla. governor embraces college tuition increases
(AP)
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AP - Gov. Charlie Crist's plan for Florida's public universities veers away from his previous opposition to raising tuition, allowing for increases of up to 15 percent a year. But a top Democratic lawmaker said it's the wrong time for that course as people struggle with foreclosures and layoffs.
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11/20/2008 04:33 PM
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Fannie Mae, Freddie Mac suspend some foreclosures
(Reuters)
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 Reuters - Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy.
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11/20/2008 04:24 PM
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Fannie Mae, Freddie Mac halting foreclosures
(AP)
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AP - Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures for about 16,000 households during the holiday season.
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11/20/2008 03:35 PM
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Fannie Mae, Freddie Mac to suspend US home foreclosures
(AFP)
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 AFP - The two US mortgage finance giants, Fannie Mae and Freddie Mac, said on Thursday they halt home foreclosures until early January as they modify loans to help keep owners in their homes.
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11/20/2008 03:04 PM
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US thrifts swing to $4B loss in 3Q
(AP)
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AP - U.S. thrifts lost $4 billion in the third quarter as they set aside $7.9 billion to cover losses from bad mortgages and other loans amid worsening conditions in the U.S housing market, their government regulator said Thursday.
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11/20/2008 02:45 PM
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Banks, raters face subprime lawsuits and new rules
(Reuters)
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Reuters - The U.S. subprime mortgage crisis has sparked more than 250 class action suits against Wall Street banks and rating companies and will lead to rising regulation in 2009, top litigators said on Thursday.
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11/20/2008 12:06 PM
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San Francisco-area homes sales jump nearly 39 percent
(Reuters)
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Reuters - Home sales in the San Francisco Bay area rose nearly 39 percent in October from a year earlier and the median home price posted a record fall as bargain hunters bought properties in markets hit hard by foreclosures, a report on Thursday said.
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11/20/2008 10:10 AM
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FDIC chief calls again for foreclosure relief
(AP)
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AP - FDIC Chairman Sheila Bair said Thursday she is "still hopeful" of using federal bailout money to help homeowners avoid foreclosure.
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11/20/2008 07:51 AM
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UK mortgage lending down 44 pct from a year ago
(AP)
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AP - Mortgage lending in Britain was down 44 percent in October compared to a year ago, further evidence the economic downturn is hurting an already weak property market, the Council of Mortgage Lenders said Thursday.
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11/20/2008 02:12 AM
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China shares fall but property, metals limit loss
(AP)
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AP - Chinese shares joined the global sell-off Thursday but gains in property developers and gold miners provided a floor for the market, partly offsetting losses in banks and insurers.
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11/19/2008 04:55 PM
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The Bank Terrorist
(Investor's Business Daily)
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Investor's Business Daily - Housing: For years, a self-described "bank terrorist" blackmailed banks into making bad home loans in our inner cities. Now those loans are defaulting by the millions, and he's blaming banks.
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11/19/2008 04:46 PM
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IBD's Top 10 - Wednesday
(Investor's Business Daily)
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Investor's Business Daily - 1 The Nasdaq plunged 6.5%, the S&P 500 6.1% and the NYSE composite 6.1%, all to fresh 51/2-year lows. The Dow slid 5.1% to its first sub-8,000 close since March '03. Volume rose. Over 100 S&P 500 components suffered double-digit declines. Every industry group fell, led by transports, home builders, steel and financials. The 10-year T-yield dived 20 ticks to 3.34%.
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11/19/2008 04:43 PM
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MetLife says commercial mortgage portfolio safe
(Reuters)
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Reuters - U.S. life insurer MetLife Inc disclosed information about its commercial mortgage portfolio on Wednesday in an effort to soothe investors that have become increasingly skittish about investments by insurers in commercial property debt.
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11/19/2008 04:36 PM
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Economy - Wednesday
(Investor's Business Daily)
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Investor's Business Daily - The gov't will insure failing home loans if lenders reduce principal to 3.5% below current home values vs. the initial plan for a 10% haircut, the Dept. of Housing and Urban Development said. The goal is to curb foreclosures by making payments manageable and giving homeowners an incentive not to walk away. But very few lenders and borrowers have taken advantage of the Hope for Homeowners program, which can guarantee up to $300 bil in reworked mortgages. HUD also said some loans may be extended from 30-year maturities to 40 years.
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11/19/2008 02:36 PM
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Oil falls; Americans cut driving by 90B miles
(AP)
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 AP - Oil slipped below $54 a barrel Wednesday as stock markets across the globe fell and yet another U.S. government report illustrated the disarray in the housing market.
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11/19/2008 11:33 AM
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Housing agency loosens foreclosure aid rules
(Reuters)
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 Reuters - The U.S. Department of Housing and Urban Development will loosen terms of its foreclosure-prevention effort so that the program, meant to backstop $300 billion in home loans, can be more effective, the agency said on Wednesday.
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11/19/2008 11:02 AM
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Homebuilder, REIT shares tumble as recession spreads
(Reuters)
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 Reuters - The shares of big U.S. homebuilders and real estate companies alike slumped on Wednesday as housing starts fell to a record low and concerns spread the commercial real estate market is going the way of residential.
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11/19/2008 07:59 AM
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Mortgage application volume falls 6.2 pct
(AP)
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AP - Mortgage application volume fell 6.2 percent during the week ended Nov. 14, according to the Mortgage Bankers Association's weekly application survey.
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11/18/2008 05:01 PM
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House Dems Blast Paulson, Back FDIC Foreclosure Plan
(Investor's Business Daily)
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Investor's Business Daily - House Democrats on Tuesday embraced a $24 billion Federal Deposit Insurance Corp. plan to curb foreclosures and gave Treasury Secretary Henry Paulson an earful for seeming to resist a broader effort to help ailing homeowners.
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11/18/2008 04:48 PM
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Lawmakers, Treasury lock horns on foreclosures
(Reuters)
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 Reuters - Treasury Secretary Henry Paulson and members of Congress clashed on Tuesday over the best use for the $700-billion financial bailout fund, with lawmakers demanding money to stem a national wave of mortgage foreclosures.
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